OKEA to redeem $120 million secured bond at 103.2 on Sept. 20

By Mary-Katherine Stinson

Lexington, Ky., Sept. 6 – OKEA AS will exercise its call option for its outstanding $120 million senior secured callable open bond 2019/2024 (ISIN: NO0010869175), according to multiple announcements.

The bonds will be redeemed in full at 103.2 plus accrued interest on Sept. 20.

Sept. 18 is the record date.

As previously reported, the redemption will be partially funded by proceeds from OKEA’s placement of $125 million of 9 1/8% three-year bonds, with the remainder coming from cash on hand.

OKEA is a Trondheim, Norway-based oil and gas company.

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